Sustainably grow

One significant event showcasing unique local culture is the Trang An Festival 2023, which included a wide range of traditional art and cultural activities. Visitors were particularly drawn to the exhibition displaying more than 30 photo negatives highlighting unique local culture . Many exhibitions, cultural festivals, and art exchanges have been held in Ninh Binh, highlighting the richness and diversity of the local culture and promoting solidarity in the community. To boost sustainable tourism development, Ninh Binh has implemented various projects and plans to preserve and promote its cultural heritage, which has become a vital resource and soft power for local development. More than 200 traditional festivals have been held around the province so far. It has also been successful in creating unique tour packages that incorporate traditional craft villages and spiritual-historical relics. With its unique blend of cross-cultural influences and natural wonders, … [Read more...] about Ninh Binh promoting cultural values for sustainable tourism

"The pandemic years are behind us and borders are open as normal," Willie Walsh, head of the International Air Transport Association (IATA), told IATA's annual summit of some 300 carriers. IATA boosted its industry profit forecast to $9.8 billion from $4.7 billion cheered by strong travel demand and an easing in oil prices. Revenue is expected to grow by 9.7% to $803 billion, inching closer to 2019's pre-pandemic level of $838 billion. But slender profit margins of 1.2% mean repairing damaged balance sheets and offering sustainable returns on investments will continue to be a headache for some airlines, Walsh said. He said airlines on average make $2.25 per passenger, "which is less than the price of a cup of coffee, a subway ticket". The profit forecast, raised from one given in December, reflected a boost in Europe, despite a wave of strikes. Airlines have in recent months reported strong results as they prepare for a busy summer season, with travel demand … [Read more...] about Global airlines more than double 2023 profit outlook

Mai celebrates the last night of the lunar year yachting on the Saigon River in January, 2023. Photo by VnExpress/Minh Tam Born to a father who served in the American marine corps and a Vietnamese immigrant mother, Mai, 32, felt she was different from others ever since she was a child. "Our names, our hair color, and our eye color were different," Mai told VnExpress as she recalled her and her siblings’ childhood in a small town an hour’s drive from San Diego, California, where the majority of residents were white. "We considered ourselves different from others the moment we stepped out of our houses." Hoping to help Mai and her brothers and sisters blend into the local community, her mother didn’t teach them Vietnamese or Vietnamese culture. Her family rarely watched Asian movies and only visited the area’s Little Saigon district once a year to visit her grandmother. Racism was a serious problem during Mai’s school days. Asian children were forced by other students … [Read more...] about Vietnamese-American woman returns to her roots

PM Pham Minh Chinh (R) and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi at the meeting in Hanoi on June 5. (Photo: VNA) Hanoi (VNA) - Prime Minister Pham Minh Chinh received Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) in Hanoi on June 5, calling on the UAE to work closely with the Vietnamese Ministry of Industry and Trade to soon finalise talks on the bilateral Comprehensive Economic Partnership Agreement (CEPA). The host leader hailed the two sides’ efforts to promote negotiations on the CEPA, especially when the two countries are celebrating the 30th founding anniversary of bilateral diplomatic relations in 2023. He affirmed Vietnam’s consistent foreign policy of independence, self-reliance, diversification and multilateralisation of external relations, and being a good friend, trustworthy partner, and responsible member of the international community. The country is also working to develop an … [Read more...] about PM calls for early finalisation of Comprehensive Economic Partnership Agreement with UAE

Asia’s increased borrowing in recent decades has augmented the region’s exposure to rising interest rates and heightened market volatility, said the International Monetary Fund (IMF). According to the IMF’s latest report on May 25, over 18 per cent of Vietnamese enterprises were found to have an interest coverage ratio (ICR) below one, indicating a high risk of default as of June 2022. Additionally, 18.32 per cent of companies had an ICR between 1-4, making them vulnerable to increased borrowing costs, while 63.36 per cent had an ICR of four, signalling a good debt repayment capacity. The report attributes the heightened risks to the rising cost of borrowing, as central banks tighten monetary policies and increase interest rates to combat inflation. Despite maintaining growth rates, companies face significant pressure due to higher borrowing costs, reducing their ability to repay debts. As of mid-2022, 17 per cent of Asia’s corporate debt was held by firms with interest … [Read more...] about IMF highlights rising debt risks for Asian companies

On June 3, the Vietnam Sport Economy Summit 2023 took place in Hanoi with the coordination of the Vietnam Sports Administration (VSA), Central Committee’s Economic Commission and Vietcontent. Speakers at the Vietnam Sport Economy Summit 2023 on June 3, 2023 The first Vietnam Sport Economy Summit 2023, with the theme Unleashing the potential of the sports economy in the renovation period, included three discussions around the issue of cash flow in sports. Topics specific to each session included the business of sport and the central role of the league; professional sports leagues and related matters; as well as sports tournaments, school sports and related issues. The speakers gave views, opinions, and shared experiences on issues related to the management and development of Vietnam's sports economy both now and in the future. Dang Ha Viet, chairman of the Vietnam Sports Administration, said that the globalisation of the sports economy was increasingly developing in … [Read more...] about Vietnam Sport Economy Summit 2023

The fifth plenary session of the 15th National Assembly has discussed and approved a number of important draft bills, including three new amendments to regulations that have significant impacts on the tourism industry in Vietnam. These policies are expected to boost the recovery and development of the tourism sector. Martin Koerner - Chairman EuroCham Vietnam’s Tourism and Hospitality Sector Committee The first law is to extend the visa exemption duration from the current 15 days to 45 days for citizens of countries that currently can travel to Vietnam visa exempt, including France, Germany, Italy, Spain, the UK, Japan, South Korea, Norway, Finland, Denmark, and Sweden. This law aims to attract more tourists from these key markets and encourage them to stay longer and spend more here. The second law is to expand the list of countries eligible for e-visa from 46 to 80, including markets such as India, Brazil, Mexico, and Argentina. The e-visa allows visitors to apply … [Read more...] about The future of tourism in Vietnam new visa policies and beyond

Illustrative image (Photo: laodong.vn) Hanoi (VNA) - Although the aquaculture industry have been facing many challenges, it continues to receive support from the Government, Director in charge of communications of the Vietnam Association of Seafood Exporters and Producers ( VASEP ) Le Hang told Lao dong newspaper. According to Hang, the Prime Minister has demanded the State Bank of Vietnam effectively manage credit operations to ensure the suitable provision of credit capital, and continue to reduce interest rates to support businesses, especially those in aquatic export . The bank has been required to implement supportive and preferential policies, including proposing a credit package worth 10,000 billion VND (over 425.4 million USD) to support businesses operating in forestry and aquatic production and processing industries. Credit programmes should be prioritised for the fisheries sector, towards creating favourable conditions for businesses involved in the … [Read more...] about Government support helps aquaculture industry weather difficulties

Access to this huge amount of customer data is a golden opportunity for banks to promote digital services and products, especially online lending. — Photo baodautu.vn Through a series of newly-issued regulations and access to the national population database, banks are planning to expand their online money-lending services. Deputy Governor of the State Bank of Viet Nam (SBV) Pham Tien Dung said accessing the national population database will help banks to check and authenticate new customer information more easily. Commercial banks will promote lending services on their electronic platforms based on this database. The draft amending the Law on Credit Institutions has many regulations specifying banking services via electronic devices. Besides that, several provisions supplemented by Civil Law and the Law on Electronic Transactions are necessary to complete the legal framework for online lending. Online lending, mostly small loans, has been implemented by many banks for a … [Read more...] about Banks to promote online lending through national population database access

Vietnamese Minister of Foreign Affairs Bui Thanh Son . (Photo: VNA) Paris (VNA) – Vietnamese Ambassador to France Dinh Toan Thang has said Vietnamese Minister of Foreign Affairs Bui Thanh Son’s attendance at the 2023 Organisation for Economic Cooperation and Development (OECD) Ministerial Council Meeting (MCM) and official visit to France from June 5-8 would provide an opportunity to reaffirm the common perception of the vision of the bilateral relations and the determination to promote deeper and closer connections between the two countries, particularly in meeting their requirements in the new context. In an interview granted to the Vietnam News Agency (VNA)'s resident correspondents in Paris, Thang said it is the first visit to France by a Vietnamese Minister of Foreign Affairs since the two countries upgraded their relationship to a strategic partnership a decade ago. It is also meant to celebrate the 50th anniversary of bilateral diplomatic ties and the 10th … [Read more...] about FM’s France visit to reaffirm common perception of vision of bilateral ties: Ambassador